Sinopec, others join B.C. LNG hunt

Companies from China, India and Japan join global investors checking out gas export potential of North Coast

Premier Christy Clark and B.C.'s new trade commissioner Ben Stewart (left) tour LNG import facility in China.

Chinese petrochemical giant Sinopec, another Japanese player and an unidentified Indian company are joining the international move to explore liquefied natural gas exports from northern B.C., says Rich Coleman, B.C.’s minister for natural gas development.

Sinopec, ranked the fifth largest global company in 2011, is looking for LNG imports equivalent to the output of the world’s second largest LNG terminal, Coleman told reporters as Premier Christy Clark began a trade trip to Asia.

Another new player is Idemitsu Kosan Co., the second largest petroleum refiner in Japan, which is applying for a federal export permit in a partnership with Calgary-based AltaGas called Triton LNG.

China National Overseas Oil Company and its new subsidiary Nexen has put up a non-refundable deposit of $12 million toward purchase of provincial land on the north side of Grassy Point near Prince Rupert, Coleman said. Another unidentified company has shown interest in the south side of Grassy Point.

The new proposals add to a lineup of international investment proposed by Petronas, Chevron, Shell, British Gas and others, which are expected to make final investment decisions in 2014.

Coleman said the tax rate for LNG producers is to be presented to companies by the end of November, but it may not be public until the B.C. government table its budget in February.

 

Just Posted

Driver of stolen vehicle caught after fleeing accident scene in Chemainus

Section of Chemainus Road closed until suspect located and eventually taken into custody

Crofton Alternate Water Supply Project eliminates boil water advisories

System takes away the need to utilize Crofton Lake in the event of a disruption to mill source

Rats edge Arrows in playoff preview

Postseason begins for Cowichan at home on Saturday

Mary Lowther column: Without the bees, there are no crops

Wikipedia explains that the mason bee was named for the way it builds clay nests to lay its eggs.

$5K grant to help connect seniors with kids through Cowichan Big Brothers Big Sisters

Seniors for Kids is a component of BBBSCV’s In School Mentoring services.

VIDEO: Rare white killer whale captured by drone near Campbell River

The transient orca has been named Tl’uk, a Coast Salish word that means ‘moon.’

Coming up in Cowichan: Spend Father’s Day fishing, or head to the BC Forest Discovery Centre

Deadline coming to register for class reunion The Cowichan Secondary Class of… Continue reading

RCMP deploys special unit in Comox Valley to combat organized crime

Combined Forces Special Enforcement Unit spends four days targeting organized crime in Courtenay

B.C. imposes interim moratorium on resource development to protect caribou

The caribou population in northeastern B.C. has dwindled over the last two decades

Students disciplined after anti-LGBTQ signs posted in Kamloops high school

Vessy Mochikas, SD73’s principal for inclusive education, called incident a learning opportunity

Air Canada expects Boeing 737 Max to resume flying by September or October

Air Canada isn’t worried about safety of the planes, says vice-president

‘The Fonz’ gives thumbs up in letter to dyslexic students at B.C. school

Students in Maple Ridge reached out to Henry Winkler after reading one his Zipster books.

PHOTOS: MP Mark Warawa loses brief battle with cancer

The Conservative Member of Parliament and long-time community advocate died in hospice this morning

Most Read